FINRA has barred former Cambridge Investment Research, Inc. broker William Michero from the securities industry. Mr. Michero consented to the sanction and to the entry of findings that from April 2018 through February 9, 2021, while associated with his firm and serving as the trustee for a senior beneficiary’s accounts…
First, on September 15, 2021, a FINRA Dispute Resolution Services arbitration panel in Houston, Texas, ordered UBS Financial Services, Inc. (“UBS”) to pay customers over $357,000 in compensatory damages. Then, on September 17, 2021, arbitrators in Boca Raton, Florida, awarded customers over $691,000 in compensatory damages, more than $115,000 in…
On September 15, 2021, the Securities and Exchange Commission (“SEC”) announced whistleblower awards of roughly $110 million and $4 million to two whistleblowers. With these awards, the SEC has issued more than $1 billion to 207 whistleblowers, ten years after the SECs Whistleblower Program became effective. The program has issued…
According to SEC filings, GPB Automotive Portfolio LP entered into an agreement with Group 1 Automotive, Inc. on September 12, 2021, to sell Prime Automotive for $880 million, consisting of 30 car dealerships and three collision centers located in the Northeast of the United States. According to a press release…
FINRA has barred former MML Investors Services, LLC (“MML”) broker Adam Gerard Belardino from the securities industry for failing to provide on-the-record testimony on two occasions in violation of FINRA Rules 8210 and 2010. In April 2019, Mr. Belardino’s firm terminated his employment during a review of customer complaints made…
On September 7, 2021, the Financial Industry Regulatory Authority (“FINRA”) and Santander Investment Securities Inc. (“Santander”) entered into an agreement whereby Santander consented to a censure and $175,000 fine after FINRA alleged that Santander published and distributed research reports to institutional investors that omitted required disclosures or included inaccurate disclosures.…
FINRA has barred former Merrill Lynch broker Scott Madison from the securities industry after he failed to provide information and documents requested by FINRA in connection with its investigation into the circumstances of his termination from Merrill Lynch. If you have suffered investment losses with Scott Madison, or Merrill Lynch,…
FINRA has barred former Raymond James Financial Services, Inc. broker Jeffrey Travis Drost from the securities industry after he refused to provide information and documents requested by FINRA. If you have suffered investment losses with Jeffrey Travis Drost, or Raymond James, contact New York securities arbitration lawyers Iorio Altamirano LLP…
FINRA has suspended former Securities America, Inc. (SAI) broker Dale Allen Ramsperger from the securities industry for five months. Mr. Ramsperger consented to the sanction and to the entry of findings that he participated in a private securities transaction without prior written disclosure to his firm. His suspension is scheduled to…
FINRA has suspended Deutsche Bank Securities Inc. broker Garrett Neubart from the securities industry for two months. Mr. Neubart consented to the sanction and to the entry of findings that he engaged in an outside business activity without providing prior written notice to his firm. His suspension is scheduled to…